NEW YORK--(BUSINESS WIRE)--Even though seven out of ten Americans (71%) say they would be happier
if they had more money, few are willing to make trade-offs between their
families and their finances. In fact, even the promise of a 50% pay
increase wouldn’t be enough for most Americans to spend less time with
their children and families:

What Would Americans Exchange for a 50% Pay Increase?

Category

Yes, I would make this trade-off

Time with their children

11%

Time with spouse or partner

20%

A significant amount of sleep each night

33%

Total vacation time

35%

A favorite recreational activity/hobby

43%

Time with friends

45%

Evenings off from work

54%

These findings are the first in a series of announcements from the Keep
Good Going Report, sponsored by New York Life, a survey of more
than 2,000 Americans exploring attitudes and expectations about how they
can cultivate goodness in their lives.

Not surprisingly, the economy has negatively impacted Americans and many
are feeling financial stress. Large majorities state that living a good
life would be easier if they didn’t have to worry about bills (90%),
were able to be financially self-sufficient in retirement (89%), and
could protect their family financially against life’s uncertainties
(89%).

“Despite the impact of a tough economic environment and people's
conviction that life would be easier with more money, a 50% pay raise
still didn’t move the needle when it came to cutting down on time spent
with family – children and spouses. This is very telling about
what Americans value,” said Liz McCarthy, senior vice president and head
of Corporate Communications, New York Life.

Cultivating Goodness: Americans Grade Themselves

The study also gave Americans an opportunity to rate their performance
in four key areas that relate to goodness: family, personal life, work
and community. Perhaps because of their unwillingness to trade time with
family, respondents indicated they were doing better in terms of having
a loving relationship with their children than in other areas of family
life – the equivalent of a “B+”.

“This is a strong foundation that Americans can build on as they seek
greater happiness, no matter what external factors, like the economy,
are at play,” said Christine Carter, Ph.D., author of Raising
Happiness, sociologist at UC Berkeley’s Greater Good Science Center,
and independent consultant to New York Life. “What’s more, this report
makes it clear where the low-hanging fruit is for Americans who are
looking to perpetuate good in their families.”

Other “report card” grades ranged from the equivalent of a B+ in areas
such as having integrity, being considerate of others, and being polite
and kind, all the way down to Ds (and one F) in areas like achieving
financial success, being politically active, and participating in
community events.

How Well Do Americans Feel They’re Doing in their Family Lives?

Having a loving relationship with their children

B+

Ensuring that their children are educated and enriched

B+

Having a good relationship with their parents

B-

Having a loving marriage/relationship

B-

Being able to provide a good life for their family

B-

Having a good relationship with siblings

C+

How Well Do Americans Feel They’re Doing in their Personal Lives?

Having integrity

B+

Being considerate of others

B+

Being a good listener

B

Feeling and expressing gratitude

B

Having a positive attitude

B-

Being patriotic

C-

Being religious/spiritual

D+

How Well Do Americans Feel They’re Doing in their Work Lives?

Helping co-workers when they need it

B-

Working hard even if they don’t enjoy it

C+

Having work-life balance

C

Working for a company/organization that helps people

C-

Finding meaning in their job

C-

Achieving financial success

D

How Well Do Americans Feel They’re Doing in their Communities?

Being polite and kind toward others

B+

Respecting elders

B+

Being a good friend

B

Being environmentally conscious

C-

Being politically active/voting

D+

Volunteering time for good causes

D-

Donating money to good causes

D-

Participating in community/neighborhood events

F

“The survey was designed to get an understanding of what Americans value
today and to see if their actions reflect these values. The results show
that, for the most part, Americans are acting on their values. More
specifically, Americans find family and personal relationships as key to
living a good life, and they are doing things in their day to day lives
to reinforce this,” said Brian Perlman, Ph.D., CLU, ChFC, partner,
Mathew Greenwald & Associates.

Survey Methodology

The Keep Good Going Report survey was sponsored by New
York Life and conducted online by Mathew Greenwald & Associates, Inc.,
in August 2012, among 2,069 individuals age 21 or older.

About New York Life

Committed to helping people perpetuate the good in their lives, New York
Life Insurance Company, a Fortune 100 company founded in 1845, is
the largest mutual life insurance company in the United States* and one
of the largest life insurers in the world. New York Life has the highest
financial strength ratings currently awarded to any life insurer by all
four of the major credit rating agencies.** Headquartered in New York
City, New York Life’s family of companies offers life insurance,
retirement income, investments and long-term care insurance. Please
visit New York Life’s Web site at www.newyorklife.com/keepgoodgoing
for more information.